Health & Beauty BULLSEYE Results

Level 4 - Blossom

Strengths

You have an extensive product catalog that appeals to a wide array of customers. You’re also tuned into the sector and emerging trends and can assess which are likely to perform well in the market, and respond with products that capitalize on those trends. Your considerable brand authority lends credence to those trends, and will attract new customers who share the values those trends represent (i.e. nootropics, adaptogens, and CBD oil enthusiasts, etc.). You’re able to amplify your messages via a strong social media initiative and press coverage. Your presence in the marketplace is noticed by leading brands in related industries and opens up opportunities for brand collaborations (e.g. protein drinks + indoor exercise equipment).

Weaknesses

Success in the category demands deep and enriched stores, but with so many products it is difficult to provide adequate content for each one. Existing customers who value content will be at risk to a new or emerging brand looking to siphon customers away. Coronavirus-induced and other disruptions beyond its control may hinder your ability to meet demand, unless you own the supply chain and manufacturing facilities. You may need an infusion of cash to sustain operations during the downturn.

Hurdles

Health and beauty purchases are highly considered and personal, which means the consumer never stops looking at new brands and products. Your success in a niche category has attracted the attention of copycat brands that will want to siphon your best customers away. If you risk customer attrition by resting on your laurels rather than innovate and invest in content creation. Without a continuous and honest assessment of the product line, you run the risk of not being for ‘anyone,’ or simply be relegated as a generic brand rather than a category leader.

Opportunities

You can improve their marketing efficiency by assessing your product line and eliminating those that can’t be supported with a solid content strategy or lack a sustainable customer base. You can create well-rounded product sets or sub-brands that open new opportunities to sell in more places — premium product sets for Sephora vs. budget friendly ones for Walmart. Investing additional resources in content marketing will reestablish your authority, and set a bar that competitive brands may struggle to meet. Your extensive product catalog and strong reputation provide you with ample opportunity for brand collaborations and multi-channel cross-selling partnerships with national and international retailers. Such partnerships are likely to create a buzz in the press and lots of social media attention.

Summary

With an extensive catalog, the blossom covers a lot of ground and is quite adept at assessing what the market wants. The blossom, with its considerable authority in its category, can validate an emerging trend simply introducing new products. The biggest risk to the blossom is that its catalog becomes too big and diverse, causing it to lose what has distinguished it in the market: a compelling reason to choose it over its competitors.

Level 1 - Seed

You are implementing basic ecommerce and marketing strategies. Your customers can navigate the site, enter the checkout funnel, and securely purchase products. But you have the potential to drive even more traffic and conversions, with some expert guidance.

Level 2 - Sprout

You are implementing more ecommerce and marketing strategies. You are actively acquiring new customers and streamlining checkout.

Level 3 - Bud

You are improving the customer experience by incorporating personalization and allowing for user generated content. You are actively monitoring and improving performance.

Level 4 - Blossom

You are providing more services to your customers inside and outside of ecommerce. Even more marketing and UX improvements are also paramount.

Level 5 - Bloom

You have optimized your store throughout. You are innovating and offering better customer experiences than most.

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